Budget 2019: Govt hikes customs duty on stainless steel items, alloy steel --> --> --> Search Horoscope IndiaPoliticsCrimeAll IndiaWorldSouth AsiaAsiaMiddle EastAfricaEuropeAmericasOceaniaMetrosDelhiKolkataMumbaiIn Other CitiesBusinessEconomyMarketCompaniesAutosIn Other NewsOpinionEditOpedColumnistsInterview of the WeekReporter's DiaryThudget 2019: Govt hikes customs duty on stainless steel items, alloy steel PTI Published: Jul 5, 2019, 5:32 pm IST Updated: Jul 5, 2019, 5:32 pm IST The current customs duty on stainless steel products is 5 per cent.5 per cent from 5 per cent at present.The announcement assumes significance as industry body Indian Stainless Steel Development Association (ISSDA) has been raising concerns that exporters of stainless steel in several countries are colluding with some Indian importers to misuse the provisions of the ASEAN-India free-trade agreement.It was also proposed to increase duty on other alloy steel and wire of other alloy steel (other than INVAR) to 7.The proposal was made by Finance Minister Nirmala Sitharaman in the Budget 2019-20.

The duty on base metal fittings, mountings and similar articles suitable for furniture, doors, staircases, windows, blinds, hinge for auto mobiles have also been increased to 15 per cent from the current 10 per cent. (Photo: Representational) New Delhi: The government on Friday proposed to increase customs duty on stainless steel products by 2.In February, ISSDA had said the imports of stainless steel from Indonesia have jumped over eight-fold in last one year. It was proposed to increase duty on other alloy steel and wire of other alloy steel (other than INVAR) to 7. China Food Machine Fittings Suppliers end-of Tags: union budget 2019, budget 2019, nirmala sitharaman, customs duty, steel items, alloy steel Location: India, Delhi, New Delhi."Changes in Customs duty to provide level playing field to domestic industry," the minister said in her maiden Budget speech.5 per cent to 7.The current customs duty on stainless steel products is 5 per cent.5 per cent from 5 per cent at present.5 per cent

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